Gold rallied to its highest since November on Tuesday, with investors shifting to safe-haven assets as worries over a slowing global economy hit stocks and crude oil again. Spot gold was up 0.5 percent at $1,112.86 an ounce by 0635 GMT, after earlier peaking at $1,113.54, its highest since November 4.
"Gold might go for a run," said Brian Lan, managing director at gold dealer GoldSilver Central in Singapore, adding the metal could test $1,138, reached on November 3. "If that is breached, it could go to $1,160." "We've heard some demand increasing in China because the stock market and currencies - people don't have confidence in these anymore - so the only one that they are looking at the moment is gold," said Lan. US gold for February delivery rose 0.7 percent to $1,113.10 an ounce.
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